Wednesday, March 13, 2013

Increase Your Income By Investing A Little Time

The increase in income may go through several things: financial investments, overtime, promotion, etc. But you can also easily increase your income by investing a few hours a week and a bit of money upfront. The theory is simple: in addition to your work, you can invest a little of your time (approximately equivalent to 10% of the hours spent at work) to generate alternative income. Working for yourself is much nicer than having to work for others, and much more satisfying when you reap the benefits. Large cash flow is a little hard to get at first, but it may end up paying. The trick is to know, what to do to get more money. The most important choice is to take an activity that does not require too much time (not to exceed 5-10 hours per week).

If the chosen activity is done, it can increase your additional income to several thousand Euros per year very quickly. Personally, I strongly advise against trying to make money with online surveys or websites that offer reward systems, etc. You rarely touch the money in cash, sometimes rewards, and often the site in question may prove to be a scam which does not pay. We must not go after this type of site as Source (s) of alternative income. It is better to turn to other types of activities: gardening (many economies) blogging (paying little at first, but generates hundreds each month after 1 or 2 years of operation, and constantly rising), freelancing (choose something you can do and offer it as a service), etc.. Finally, it pays a lot more money doing something you like. It is not because you work better, but because you are more motivated to work.

 I suggest you diversify your income with an activity related to your interests. Still, the lesson to be learned from this post is that it is not always enough to put money aside for retirement, sometimes we also know that money to work to your advantage. I also advise you to continue to set aside money for your retirement, but also increase your income by investing a little time and (very) little money. Your goals for retirement accumulated capital will be achieved much faster. Do you already have diversified sources of income of your own?

1 comment:

  1. Nice article. Thanks for your suggestions on earning extra. There is however one thing, that, I disagree. Earning from online surveys. I've been associated with an online survey community, that actually pays. Though, the income is not that great, and that you don't get cash or cheques, still, you can get the money in the form of gift vouchers, that, gets you income for some free time you've invested in filling out those surveys.